Deadlock as FAAC discovers discrepancy in NNPC’s accounting

Revenue allocation to the three arms of government for February has been stalled, due to a shortfall in income to the federation account by the Nigerian National Petroleum Corporation, NNPC.

The federal accounts allocation committee’s meeting in Abuja was not concluded due to discrepancies in expected revenue and actual amount remitted by the state oil company.

The accounts allocation committee said it is meeting with the corporation to reconcile these figures after which the monies will be distributed.